With the ongoing economic slump hospitality industry is adversely hit. With high unemployment rate people are not spending much and are no way thinking about expensive wine and dine.
The credit available to people has also reduced which has led to a lot of expenditure cuts. The good news is a lot of Americans are still employed, most of them from upper middle class and are contributing towards hospitality industry by dinning out. A lot of people in this category are attracted towards the fast-casual restaurants as they offer quick service and are better than expensive fine dining restaurants.
The fast-casual restaurants have witnessed a growth of 4 to 5 percent. They provide customers with good quality food, great ambiance and service; this is what foodies need today. The high focus point remains the food but after that a lot of attention and efforts are diverted towards the other things. But now the hotel budgets have gone down as customers spending on food. People are willing to compromise on the ambiance but never on the food. If they want to eat edible food they can go for ready to eat canned food, they turn to restaurants in search of great food and nothing less. They give high emphasis on hygiene and comfort which automatically creates a feel good ambiance.
Now the industry is working hard to further fuel the growth.
Customer relationship is also an important factor that takes a restaurant far ahead of its competitors. Restaurants now give best treatments to their guests by giving complimentary drinks or discount coupons etc to loyal customers.
The restaurants are learning that spending a lot of money will not get them those customers but giving the guests what they demand will. The economic slump has taught a lot of lessons to the industry and is forcing the industry to think differently.
No comments:
Post a Comment